This recession is pants ...

[sasguru]

.. . so far anyway.
The press may well be right about all the doom but what's happened in practice?
Compared to the 1990/1991 not much: unemployment is lower, most people still have their houses - there have not been the mass repos of 1991, house prices haven't gone down much, interest rates are zero compared to double figures, if you go out in the evening people seem to be still spending like mad.

I remember the same blood curdling predictions from the early 1990: the end of the West, the rise of Japan (it was the one to watch those days), etc etc.
And what happened? By the mid to late 90s Britain was booming again.

[TimberWolf]

Propped up with funny money this time though.

[Doggy Styles]

We have never had a structural deficit anything like as big as we've got now, and private debt has become a monster, so who knows what will happen down the line.

On the other hand, there is still confidence in the markets that HMG are doing the right things to turn it around, and so loans (including private) aren't being called in like before.

[TimberWolf]

Are we going to escape hyperinflation? And indeed do the powers that be even want to avoid it?

[MarillionFan]

.. . so far anyway.
The press may well be right about all the doom but what's happened in practice?
Compared to the 1990/1991 not much: unemployment is lower, most people still have their houses - there have not been the mass repos of 1991, house prices haven't gone down much, interest rates are zero compared to double figures, if you go out in the evening people seem to be still spending like mad.

I remember the same blood curdling predictions from the early 1990: the end of the West, the rise of Japan (it was the one to watch those days), etc etc.
And what happened? By the mid to late 90s Britain was booming again.

Nah sorry. Don't remember it. But then you're much older than the rest of us.

[sasguru]

Nah sorry. Don't remember it. But then you're much older than the rest of us.

Perhaps. Isn't that part of the problem though? Youngsters with no sense of perspective?

[Churchill]

Perhaps. Isn't that part of the problem though? Youngsters with no sense of perspective?

"Those who cannot remember the past are condemned to fulfill it" - George Santayana

[MarillionFan]

Perhaps. Isn't that part of the problem though? Youngsters with no sense of perspective?

I was at Uni back then, getting pissed. Don;t remember much about it.

[BrilloPad]

.. . so far anyway.
The press may well be right about all the doom but what's happened in practice?
Compared to the 1990/1991 not much: unemployment is lower, most people still have their houses - there have not been the mass repos of 1991, house prices haven't gone down much, interest rates are zero compared to double figures, if you go out in the evening people seem to be still spending like mad.

I remember the same blood curdling predictions from the early 1990: the end of the West, the rise of Japan (it was the one to watch those days), etc etc.
And what happened? By the mid to late 90s Britain was booming again.

And I think it will be pants for a long while to come. Until we get QE47. Followed by hyperinflation.

HTH

[BrilloPad]

Perhaps. Isn't that part of the problem though? Youngsters with no sense of perspective?

It could be worse and be old with no sense of perspective.